You'd think I'd know what this by now, but I'm still troubled with understanding the interpretation (probably one of Lucas's pre-established last laughs for folks with challenged mental capacities when it comes to cryptic movie titles). What exactly is the Phantom Menace? I've narrowed it down to two for which I believe one should be the answer:
Palpatine. His a menace because he's actually a Sith, and a phantom because he disguises himself as a Republic senator
The Sith itself. It's been dormant for a while and sneaks back in with nobody knowing
Or, is it possible it's not definitive at all...it could be a combination of things, or purposely meant for individual interpretation?